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Interwar Romanian sovereign bonds: the impact of diplomacy, politics and the economy1

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  • Oosterlinck, Kim
  • Ureche-Rangau, Loredana

Abstract

Sovereign debts differ from other financial instruments because repayment ultimately depends on the issuers' willingness to pay. In turn, willingness to pay may be influenced by political, diplomatic or economic considerations. Based on an original database of Romanian bonds traded in Paris, this article shows that international diplomacy played an important role in the Romanian debt valuation.

Suggested Citation

  • Oosterlinck, Kim & Ureche-Rangau, Loredana, 2012. "Interwar Romanian sovereign bonds: the impact of diplomacy, politics and the economy1," Financial History Review, Cambridge University Press, vol. 19(2), pages 219-244, August.
    • Handle: RePEc:cup:fihrev:v:19:y:2012:i:02:p:219-244_00
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    Cited by:

    1. Kim Oosterlinck, 2013. "Sovereign debt defaults: insights from history," Oxford Review of Economic Policy, Oxford University Press, vol. 29(4), pages 697-714, WINTER.
    2. Stephanie Collet & Kim Oosterlinck, 2019. "Denouncing Odious Debts," Journal of Business Ethics, Springer, vol. 160(1), pages 205-223, November.
    3. Kim Oosterlinck & Loredana Ureche-Rangau & Jacques-Marie Vaslin, 2014. "Baring, Wellington and the resurrection of French public finances following Waterloo," Post-Print CEB, ULB -- Universite Libre de Bruxelles, vol. 74(4), pages 1072-1102, November.
    4. Andreea-Alexandra Maerean & Maja Pedersen & Paul Sharp, 2021. "Sovereign Debt and Supersanctions in Emerging Markets: Evidence from Four Southeast European Countries, 1878-1913," Working Papers 0216, European Historical Economics Society (EHES).
    5. Christoph A. Schaltegger & Lukas A. Schmid, 2021. "Public perceptions and bond markets during the Great War: the case of a neutral country," Public Choice, Springer, vol. 186(3), pages 537-561, March.
    6. Oosterlinck, Kim & Accominotti, Olivier & BRIERE, Marie & Burietz, Aurore & Szafarz, Ariane, 2020. "Did Globalization Kill Contagion?," CEPR Discussion Papers 14395, C.E.P.R. Discussion Papers.
    7. Jopp, Tobias A., 2017. "How does the public perceive alliances? The Central and Allied Powers in World War I," IBF Paper Series 12-17, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.
    8. Oosterlinck, Kim & Ureche-Rangau, Loredana & Vaslin, Jacques-Marie, 2019. "Aristocratic Privilege. Exploiting “Good†Institutions," CEPR Discussion Papers 14071, C.E.P.R. Discussion Papers.

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